Quantum Finance. Opportunities and threats.

Dr. Alessio Faccia

Lecturer in Accounting - Coventry University

 

ABSTRACT

After the discovery of Google (September 2019), we enter the heart of the quantum computer race: behind young and old under the watchful eye of national security. Sycamore, the 54 qubit machine built by Google, has shown that a sequence of random numbers is truly random. To simplify, Google would have asked its computer to perform a complex mathematical operation by generating random numbers. And she did it in just 3 minutes and 20 seconds. A calculation that a traditional supercomputer would solve in 10,000 years. The experiment was hailed as the beginning of an era. For the first time the quantum computer would seem something real. Far away in time but real, indeed achievable. The biggest threat is that current cryptographic systems will become completely useless and obsolete once this technology becomes commercial and available on a large scale at lower costs. The world of finance will be positively impacted from the point of view of the forecasting capacity and negatively from that of the security of the electronic keys that protect the savings.

 

KEYWORDS

Quantum; finance; cybersecurity; cryptography; Google.

 

 

REFERENCES

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Faccia, A., & Mosteanu, N. R. (2019). Accounting and blockchain technology: from double-entry to triple-entry. The Business & Management Review, 10(2), 108-116.

Faccia, A., Al Naqbi, M. Y. K., & Lootah, S. A. (2019, August). Integrated Cloud Financial Accounting Cycle: How Artificial Intelligence, Blockchain, and XBRL will Change the Accounting, Fiscal and Auditing Practices. In Proceedings of the 2019 3rd International Conference on Cloud and Big Data Computing (pp. 31-37).

Faccia, A., Moşteanu, N. R., Cavaliere, L. P., L. & De Santis, G. (2020). The rise of online banks in Italy “WIDIBA Bank” Case Study. Financial Markets, Institutions and Risks, 4(2).

Faccia, A., Moşteanu, N. R., Fahed, M. & Capitanio, F. (2019). Accounting Information Systems and ERP in the UAE. In Proceedings of 3rd International Conference on Cloud and Big Data Computing.

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Moşteanu N. R., Faccia, A., Ansari A., Shamout, M. D. (2020). Sustainability Integration in Supply Chain Management through Systematic Literature Review. Quality-Access to Success Journal, 21(176), 117-123.

Moşteanu, D., Roxana, N., Faccia, D., Cavaliere, L. P. L., & Bhatia, S. (2020). Digital Technologies’ Implementation within Financial and Banking System during Socio Distancing Restrictions–Back to the Future. International Journal of Advanced Research in Engineering and Technology, 11(6).

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Mosteanu, N. R., Faccia, A., Torrebruno, G., Torrebruno, F. (2019). The newest intelligent financial decisions tool: fractals. A smart approach to assess the risk. The Business & Management Review, 10(2), 89-97.

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Moşteanu, N. R., Faccia, A., Torrebruno, G., Torrebruno, F. (2019). The newest intelligent financial decisions tool: fractals. A smart approach to assess the risk. The Business & Management Review, 10(2), 89-97.

Mosteanu, N. R., Facia, A., Torrebruno, G., Torrebruno, F. (2019). Fractals–A Smart Financial Tool to Assess Business Management Decisions. Journal of Information Systems & Operations Management, 45-56.

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